When The Vapors recorded Turning Japanese in 1980, I wonder if they had any inkling that 30 years later the chorus would be co-opted by every macro pundit with a blog in the western world to explain the future of the US economy.
It’s everywhere, to wit:
The Guardian says, “We’re all turning Japanese.” PIMCO asks, “Is the U.S. turning Japanese?” Time asks, “Is America turning Japanese?” James Montier says, “the market is implying a 70% probability that the US turns Japanese.” The WSJ says, “US Isn’t Turning Japanese.” Paul Krugman, mangling the lyric, says, “Now we’re all Japanese.”
The “turning Japanese” earworm has me considering gouging out my eyes and eardrums. Please, for the love of all that is good and holy in the world, find another cliché. Oh, and just in case you’ve forgotten how the song sounds, here it is in all its glory. Enjoy!:
Greenbackd 